Though
· Large business organizations cut 100,000 jobs.
· Medium business cut 2,23,000 jobs.
· Small business cut 2,0,9000 jobs.
· The “service-producing” sector declined by 2,65,000 positions.
· The “goods-producing” sector cut 267,000 jobs.
The US Dept of Labor is going to release its latest job report on June 5, 2009 and as per “analyst average estimate” the report will also show a figure around 5,20,000, a 9.2% increase against April 8.9%. The worst news is, despite economic recovery, American companies will reduce another one million jobs in the rest of the current year and by 2010, the jobless rate of the U.S will hit the peak of 9.5%-10%. It will be the highest since September 1983.
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